Title: OPERATING PERIOD AUDITED
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of St. Philips Child Development Center under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the statement of financial position, changes in net assets, or cash flows of the Center.Accrued and Deferred Reimbursement - Various grant procedures are used for federal awards received by the Center. Consequently, timing differences between expenditures and grant receipts can exist at the beginning and end of the operating period. Accrued balances at year-end represent an excess of reimbursable expenditures over cash receipts to date. Deferred balances at year-end represent excess receipts over reimbursable expenditures to date. Generally, accrued or deferred balances caused by differences in the timing of cash receipts and expenditures will be reversed in the remaining grant period of the subsequent operating fiscal year.
De Minimis Rate Used: N
Rate Explanation: During fiscal year 2022, The Center elected not to use the 10% de minimus cost rate as covered in the 2 CFR ? 200.414 Indirect (Facilities & Administration) costs. Negotiated federal indirect cost rates were used in 2022.
Uniform Guidance testing procedures were performed for program transactions occurring during the operating year ended December 31, 2022.
Title: RELATIONSHIP TO FINANCIAL STATEMENTS
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of St. Philips Child Development Center under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the statement of financial position, changes in net assets, or cash flows of the Center.Accrued and Deferred Reimbursement - Various grant procedures are used for federal awards received by the Center. Consequently, timing differences between expenditures and grant receipts can exist at the beginning and end of the operating period. Accrued balances at year-end represent an excess of reimbursable expenditures over cash receipts to date. Deferred balances at year-end represent excess receipts over reimbursable expenditures to date. Generally, accrued or deferred balances caused by differences in the timing of cash receipts and expenditures will be reversed in the remaining grant period of the subsequent operating fiscal year.
De Minimis Rate Used: N
Rate Explanation: During fiscal year 2022, The Center elected not to use the 10% de minimus cost rate as covered in the 2 CFR ? 200.414 Indirect (Facilities & Administration) costs. Negotiated federal indirect cost rates were used in 2022.
All Federal grant expenditures were for the Centers operational purposes and are recognized in the Statement of Activities. The following summary represents the reconciliation of the statement of activities to the Schedule of Expenditures of Federal Awards:Total expenses per Statement of Activities $1,676,924Less: Expenses funded by contributions and other sources $547,113 Total expenditures per Schedule of Expenditures of Federal Awards $1,129,811.
Title: SCOPE OF AUDIT PURSUANT TO UNIFORM GUIDANCE
Accounting Policies: Basis of Presentation - The accompanying schedule of expenditures of federal awards (the Schedule) includes the federal grant activity of St. Philips Child Development Center under programs of the federal government for the year ended December 31, 2022. The information in this Schedule is presented in accordance with the audit requirements of Title 2 U.S. Code of Federal Regulations (CFR) Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (Uniform Guidance). Because the Schedule presents only a selected portion of the operations of the Center, it is not intended to and does not present the statement of financial position, changes in net assets, or cash flows of the Center.Accrued and Deferred Reimbursement - Various grant procedures are used for federal awards received by the Center. Consequently, timing differences between expenditures and grant receipts can exist at the beginning and end of the operating period. Accrued balances at year-end represent an excess of reimbursable expenditures over cash receipts to date. Deferred balances at year-end represent excess receipts over reimbursable expenditures to date. Generally, accrued or deferred balances caused by differences in the timing of cash receipts and expenditures will be reversed in the remaining grant period of the subsequent operating fiscal year.
De Minimis Rate Used: N
Rate Explanation: During fiscal year 2022, The Center elected not to use the 10% de minimus cost rate as covered in the 2 CFR ? 200.414 Indirect (Facilities & Administration) costs. Negotiated federal indirect cost rates were used in 2022.
All federal awards expended by St. Philips Child Development Center (Center) were included in the scope of the Uniform Guidance. The Single Audit was conducted in accordance with the provisions of the OMBs Compliance Supplement. The Single Audit fulfills all the federal agencies audit requirements, which include financial compliance and the adequacy of internal control. Compliance testing was performed for major federal award programs, which covers approximately 95% of total federal awards program expenditures. The major federal award program was: U.S. Department of Health, and as passed through from District of Columbia Office of the State Superintendent of Education, CFDA Number 93.558, with total expenditures of $1,075,959.